Why Taiwan Semiconductor Manufacturing Stock Was Bucking the Market Trend and Moving Higher Today
On a day when stocks were falling broadly in response to President Donald Trump's imposition of new tariffs on Canada, Mexico, and China, Taiwan Semiconductor Manufacturing (NYSE: TSM) was one of the rare stocks posting gains.Yesterday's announcement at the White House that the company planned to invest an additional $100 billion in new chip foundries in the U.S. seemed to be lifting the stock today. As of 10:15 a.m. ET, TSMC was up 2.1%. It had gained as much as 4.5% earlier in the session.Image source: Getty Images.Continue reading
On a day when stocks were falling broadly in response to President Donald Trump's imposition of new tariffs on Canada, Mexico, and China, Taiwan Semiconductor Manufacturing (NYSE: TSM) was one of the rare stocks posting gains.
Yesterday's announcement at the White House that the company planned to invest an additional $100 billion in new chip foundries in the U.S. seemed to be lifting the stock today. As of 10:15 a.m. ET, TSMC was up 2.1%. It had gained as much as 4.5% earlier in the session.
Image source: Getty Images.
